I’m such a geek nerd for cool graphs. I love this slider. Many buyers fret over “high interest” or not getting the “best rate” when applying for a mortgage. Here’s some perspective. Move the slider to 1981 @ 16%. Our dad bought our family home then when 20% down was required. I bought my current home in 1994 @ 8%. Rates now are 3.5-4%.
- Interest Paydown: When asked, will you be paying more each month Over the amount to pay down your principal, they usually say of course.
- Longevity: How long do you expect to live in the home? Less than 10 years or so? Does the rate “really matter?”
